MY Stock 118

MY Stock 118 KLSE News & Tips

Key Asic says working on corporate exercise, shares surge 63.6%

PETALING JAYA: Key Asic Bhd, whose share price jumped 63.64% today, explained that it is in the midst of undertaking a corporate exercise even without being queried by Bursa Malaysia.

In a filing with the stock exchange, the company said the relevant details of the corporate exercise have not been finalised yet, and it will make the necessary announcements if it decides to proceed with the exercise.

The company’s share price rose 10.5 sen to close at 27 sen today with a total of 248.78 million shares changing hands, making it the most active stock. Its market capitalisation stood at RM240.39 million.

Key Asic is involved in the design and manufacturing of Internet of Things chips and systems.